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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Different Perspective on Taxation

The United States implements the Affordable Health Care Act, FACTA, and a 3.8% Medicare tax, while other jurisdictions tout their advantages for business, finance and investment. Clearly, the U.S. market is attractive in its own right which accounts for its take-it or leave-it attitude toward taxation incentives. Other jurisdictions, however, are not as fortunate and […]

Author: Scarinci Hollenbeck, LLC

February 7, 2014

U.S. Signs Six New Bilateral Agreements to Crack Down on Tax Evasion

The U.S. Department of Treasury made positive steps forward in December in its campaign against tax evasion, with the agency signingbilateral agreements with jurisdictions to comply with the tax law provisions outlined by the Foreign Account Tax Compliance Act. In a one-week time span in mid-December, Malta, the Netherlands, The Islands of Bermuda, and three UK […]

Author: Scarinci Hollenbeck, LLC

January 6, 2014

Tina Turner: No Longer Looking For a Job in the City

Tina Turner rose to fame, in part, on the song Proud Mary, whose lyrics begin with: “Lookin’ for a job in the city.” Recently, the Washington Post announced that Tina Turner relinquished her U.S. citizenship. Another publication stated that, for income tax purposes, there is a distinction between renouncing and relinquishing a person’s U.S. citizenship […]

Author: James F. McDonough

November 27, 2013

IRS Says Juan Pablo Montoya Owes $2.7 Million in Back Taxes

NASCAR driver Juan Pablo Montoya is currently facing a series of tax law violations in the U.S. Tax Court, for allegedly failing to pay nearly $3 million in federal back taxes owed to the Internal Revenue Service. The IRS recently filed a lawsuit against the driver for these back taxes, arguing that he did not disclose the […]

Author: Scarinci Hollenbeck, LLC

November 11, 2013

Private Swiss Bank Closes Over Tax Evasion Dispute With U.S.

Private Swiss bank Frey & Co AG announced that it’s closing its doors due to “unsustainable costs” stemming from the country’s dispute with the U.S. over alleged tax evasion. Frey will be the second bank – following Wegelin and Co. – to close after allegations of helping Americans evade U.S. tax law. U.S. authorities have launched […]

Author: Scarinci Hollenbeck, LLC

October 28, 2013

Report: Rising Number of Americans Relinquish Citizenship to Avoid High Taxes

A growing number of Americans are renouncing their U.S. citizenship and handing in their passports at faster rates in an effort to avoid rising high tax rates and complicated tax law, according to a newly-published government report. The Internal Revenue Service released its Quarterly Publication of Individuals who have chosen to Expatriate in the Federal Register. The […]

Author: Scarinci Hollenbeck, LLC

September 18, 2013

IRS Launches New Online FATCA Recording System

The Internal Revenue Service is one step closer to strengthening an international community devoted to fighting tax evasion and sharing information about potential tax cheats. After several stops and starts, the agency announced it has unveiled a new online registration for American and foreign financial institutions that need to comply with the Foreign Account Tax […]

Author: Scarinci Hollenbeck, LLC

September 3, 2013

Government Issues Final Rules on FATCA

Foreign financial institutions that shelter Americans’ offshore funds will now be required to comply with the final rules on FATCA issued by the U.S. Department of Treasury and the Internal Revenue Service. The federal officials announced that they have finalized regulations relating to U.S. tax law compliance and offshore accounts. The groups said that many […]

Author: James F. McDonough

February 11, 2013

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